TMK, one of the world’s largest oil and gas pipe producers, today announces recommended 2008 dividends amount.

The OAO “TMK” Board of Directors has recommended that shareholders approve a 2008 dividend of RUB 1.44 per share (approximately USD* 0.18 per GDR). The total amount of dividend to be approved at the Annual General Meeting of Shareholders (AGM) is RUB 1,257,121,440 (approximately USD* 39.5 mln.).

TMK management currently has no plans to pay interim dividend for 2009.

The list of shareholders eligible to participate in the Annual General Meeting of Shareholders and entitled to dividends for 2008 was drawn up on May 21, 2009. The AGM will be held on June 30, 2009 in Moscow

Additionally, the OAO “TMK” Board of Directors recommended members of the Board of Directors and members of the Internal Audit Commission for shareholder approval as well as approved the AGM agenda.

*As of May 21, 2009, the Russian Central Bank exchange rate stood at 31.8009 RUB/USD.